Friday, 15 January 2016

Asia shares win reprieve after oil rebound

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 Asian stocks won a temporary reprieve on Friday after oil prices snapped their eight-day rout, helping to lift battered energy shares even as investors remained on edge as they looked for signs of stability in China's economy and its volatile markets. 

MSCI's broadest index of Asia-Pacific shares outside Japan, which hit a four-year low on Thursday, rose 0.5 percent while Japan's Nikkei jumped 1.8 percent. 

Oil prices rebounded on Thursday, with international benchmark Brent futures rising 2.4 percent to USD 31.03 a barrel, recovering from its 12-year low of USD 29.73 hit earlier in the day.

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